The real estate sector may usher in good news.
According to Cailian, on the afternoon of May 17, the responsible persons of the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, the People's Bank of China, and the State Administration of Financial Supervision and Administration will hold a regular briefing on the policies of the State Council to introduce the relevant policies for ensuring the delivery of housing. In addition, various ministries and agencies have set up joint working groups with key personnel in their respective real estate fields.
In addition, according to some people familiar with the situation, on the morning of May 17, the State Council will organize a meeting related to real estate work, it is said that the People's Bank of China, the Ministry of Housing and Urban-Rural Development, the State Administration of Financial Supervision and Administration, the Ministry of Finance, relevant leaders of local governments and state-owned banks and other large financial institutions will all attend the meeting, the meeting may announce some major positive news for the property market.
For this meeting, it is said that the bank has received information on May 15 that the top leaders of the banks and the heads of the real estate business lines will participate.
As for what measures will be introduced at these meetings, and what good news is not yet known, but according to market speculation, some policies related to the property market may involve several aspects.
The first is to guarantee the delivery of the building assistance.
In recent years, under the pressure of debt, many projects have come to a standstill or even unfinished business, and ensuring the delivery of buildings has become the most important task of the current property market.
Now many places are trying their best to ensure the delivery of the building, and this meeting is likely to be related to the rescue measures of the delivery of the building, and may introduce some relevant policies and promotion measures to ensure the delivery of the building.
The second is the acquisition of stock properties.
As for the acquisition of stock real estate, in fact, some places are already in the process of promoting, and many cities are currently issuing bonds or using financial funds to acquire stock real estate in the market as affordable housing and affordable housing, so as to reduce the amount of inventory.
In order to acquire the stock of real estate, it cannot be ruled out that the state may allow local governments to issue special bonds, and may even issue some ultra-long-term bonds, or the central bank may launch special loans for the acquisition of the property market.
The third is to expand the scope of the project whitelist.
Previously, the financial sector has launched a whitelist of developers, and for some projects that meet the requirements, once they are included in the whitelist, they can get loan support, and the special funds are used to ensure the delivery of buildings.
However, at present, there are relatively few developers and projects that are actually whitelisted, and it cannot be ruled out that this meeting may expand the scope of the project whitelist and lower the relevant threshold.
Of course, the above topics that may be involved are just some speculations in the current market, as for what good news will be launched at this meeting, we will not know the final answer until the end of the meeting.
However, since the multi-department joint establishment of a working group, I believe that it must be to promote the steady development of real estate, and good news will definitely follow.
After all, the real estate industry is too important, although everyone has a dispute about the real estate industry, if the real estate industry fails, the impact on the economy and local fiscal revenue is very large.
Real estate is an industry related to the national economy and people's livelihood, and has always been a pillar industry in the mainland.
However, in the past two years, due to the combined impact of a variety of factors, the real estate industry has entered an unprecedented deep adjustment cycle, from the industry to enterprises to home buyers have been greatly affected.
In order to promote the steady development of the real estate industry, the mainland has also introduced many policies in the past few years, and some restrictions related to buying and selling houses have been gradually relaxed.
At present, many cities have almost no restrictions, and even Chengdu, Hangzhou, and Xi'an have completely relaxed purchase restrictions.
However, after the liberalization of these policies, there is still a big gap between the recovery of the property market and everyone's expectations.
Judging from the data released by the National Bureau of Statistics for the first quarter of 2024, all the data of the property market are showing a downward trend.
From January to March, the national real estate development investment was 2,208.2 billion yuan, down 9.5 percent year-on-year, of which residential investment was 1,658.5 billion yuan, down 10.5 percent.
In addition, from January to March, the sales area of newly built commercial buildings was 226.68 million square meters, a year-on-year decrease of 19.4%, of which the sales area of residential buildings decreased by 23.4%. The sales of newly built commercial buildings were 2,135.5 billion yuan, down by 27.6 percent, of which residential sales fell by 30.7 percent.
From these data, it can be seen that the performance of the property market since the beginning of the year has not been very good, and the data has continued to decline, which shows that some of the policies released before have not been able to promote the rapid recovery of the property market.
Since so many policies have been liberalized, the property market has not responded, it can only continue to further promote, if May 17 can release some good news, maybe the property market will have a significant recovery.